Bajaj Housing Finance’s initial public offering (IPO) has garnered strong interest from investors, with the subscription rate reaching 7.51 times on the second day, according to BSE data. The IPO, which opened for bidding on September 9, is set to close on September 11.
Bajaj Housing Finance, registered as a non-deposit taking housing finance company since 2015, provides a variety of financing solutions for both residential and commercial properties. The Reserve Bank of India classifies it as an “upper layer” non-banking financial company (NBFC), offering products like home loans and lease rental discounting.
On day two of the IPO, retail investors subscribed 3.84 times their allocated portion. Non-institutional investors (NIIs) subscribed 16.46 times, while qualified institutional buyers (QIBs) subscribed 7.46 times. The employee segment saw a 97% subscription rate, and the shareholder portion was oversubscribed by 9.55 times.
The IPO was initially subscribed 2.02 times on its first day, with retail investor interest at 1.51 times and NIIs subscribing at 4.35 times. QIBs subscribed 1.07 times, while the employee segment stood at 32%.
Bajaj Housing Finance aims to raise ₹6,560 crore through the IPO, consisting of a fresh issue of ₹3,560 crore and an offer for sale of ₹3,000 crore. The price band is set between ₹66 and ₹70 per share.
The offering aims to meet RBI requirements for NBFCs to list on exchanges by 2025. The funds raised will strengthen the company’s capital base to support growth.
The book-running lead managers for the IPO include Axis Capital, Goldman Sachs, SBI Capital Markets, and Kotak Mahindra Capital Company.
As of today, the Grey Market Premium (GMP) for Bajaj Housing Finance is +68, meaning shares are trading at a ₹68 premium, with an estimated listing price of ₹138.
With high demand from both retail and institutional investors, Bajaj Housing Finance’s IPO is expected to see a strong listing, potentially delivering nearly 100% gains.
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